New Risk • Apr 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.3% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Declared Dividend • Mar 18
Dividend of ₩560 announced Shareholders will receive a dividend of ₩560. Ex-date: 30th March 2026 Payment date: 24th April 2026 Dividend yield will be 3.9%, which is higher than the industry average of 0.5%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 14% per year over the past 7 years and payments have been stable during that time. Earnings per share has grown by 8.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공시 • Mar 17
NICE Holdings Co., Ltd., Annual General Meeting, Mar 31, 2026 NICE Holdings Co., Ltd., Annual General Meeting, Mar 31, 2026, at 10:00 Tokyo Standard Time. Location: conference hall, 17, eunhaeng-ro, yeongdeungpo-gu, seoul South Korea 공시 • Sep 05
NICE Holdings Co., Ltd. (KOSE:A034310) announces an Equity Buyback for KRW 10,000 million worth of its shares. NICE Holdings Co., Ltd. (KOSE:A034310) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares, pursuant the contract with Daishin Securities. The purpose of the program is stock price stability and shareholder value enhancement. The program will expire on September 4, 2026. As of September 4, 2025, the company had 2,309,335 shares in treasury within scope available for dividend and 0 shares in treasury through other repurchase. New Risk • Aug 30
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ₩506 (vs ₩502 in 2Q 2024) Second quarter 2025 results: EPS: ₩506. Revenue: ₩788.2b (up 6.0% from 2Q 2024). Net income: ₩17.7b (flat on 2Q 2024). Profit margin: 2.2% (down from 2.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: ₩1,349 (vs ₩110 in FY 2023) Full year 2024 results: EPS: ₩1,349 (up from ₩110 in FY 2023). Revenue: ₩3.04t (up 7.8% from FY 2023). Net income: ₩47.5b (up ₩43.6b from FY 2023). Profit margin: 1.6% (up from 0.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 21
Upcoming dividend of ₩500 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 April 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.9%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.3%). 공시 • Oct 01
NICE Holdings Co., Ltd. (KOSE:A034310) announces an Equity Buyback for KRW 2,000 million worth of its shares. NICE Holdings Co., Ltd. (KOSE:A034310) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares, pursuant the contract with Daishin Securities. The purpose of the program is stock price stability and shareholder value enhancement. The program will expire on April 1, 2025. As of September 29, 2024, the company had 2,512,070 shares in treasury within scope available for dividend and 0 shares in treasury through other repurchase. Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: ₩110 (vs ₩1,012 in FY 2022) Full year 2023 results: EPS: ₩110 (down from ₩1,012 in FY 2022). Revenue: ₩2.82t (up 2.4% from FY 2022). Net income: ₩3.88b (down 89% from FY 2022). Profit margin: 0.1% (down from 1.3% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year and the company’s share price has also fallen by 11% per year. Upcoming Dividend • Dec 20
Upcoming dividend of ₩410 per share at 3.1% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 24 April 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.6%). New Risk • Nov 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.1% Last year net profit margin: 1.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (1.1% net profit margin). Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: ₩1,012 (vs ₩1,548 in FY 2021) Full year 2022 results: EPS: ₩1,012 (down from ₩1,548 in FY 2021). Revenue: ₩2.75t (up 12% from FY 2021). Net income: ₩36.7b (down 37% from FY 2021). Profit margin: 1.3% (down from 2.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 10% per year. Upcoming Dividend • Dec 21
Upcoming dividend of ₩375 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of South Korean dividend payers (3.3%). In line with average of industry peers (3.0%). 공시 • Dec 03
NICE Holdings Co., Ltd. (KOSE:A034310) announces an Equity Buyback for KRW 7,000 million worth of its shares. NICE Holdings Co., Ltd. (KOSE:A034310) announces a share repurchase program. Under the program, the company will repurchase up to KRW 7,000 million worth of its shares, pursuant the contract with Daishin Securities. The purpose of the program is stock price stability and shareholder value enhancement. The program will expire on June 1, 2023. As of December 1, 2022, the company had 2,276,240 shares in treasury within scope available for dividend and 0 shares in treasury through other repurchase. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공시 • Aug 24
NICE Holdings Co., Ltd. (KOSE:A034310) announces an Equity Buyback for KRW 6,000 million worth of its shares. NICE Holdings Co., Ltd. (KOSE:A034310) announces a share repurchase program. Under the program, the company will repurchase up to KRW 6,000 million worth of its shares pursuant to a contract with Daishin Securities. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on February 23, 2023. As of August 23, 2022, the company had 1,735,610 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 15% share price gain to ₩14,700, the stock trades at a trailing P/E ratio of 10.7x. Average forward P/E is 9x in the Diversified Financial industry in Asia. Total loss to shareholders of 29% over the past three years. Buying Opportunity • May 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.0%. The fair value is estimated to be ₩19,522, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 33%. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩270 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 22 April 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (3.1%). Reported Earnings • Nov 21
Third quarter 2021 earnings released: EPS ₩391 (vs ₩385 in 3Q 2020) The company reported a mediocre third quarter result with weaker profit margins, although earnings were flat and revenues improved. Third quarter 2021 results: Revenue: ₩645.1b (up 20% from 3Q 2020). Net income: ₩14.7b (flat on 3Q 2020). Profit margin: 2.3% (down from 2.7% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 28
Full year 2020 earnings released: EPS ₩424 (vs ₩2,313 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ₩2.06t (up 9.7% from FY 2019). Net income: ₩15.0b (down 83% from FY 2019). Profit margin: 0.7% (down from 4.7% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. 공시 • Mar 16
NICE Holdings Co., Ltd., Annual General Meeting, Mar 30, 2021 NICE Holdings Co., Ltd., Annual General Meeting, Mar 30, 2021, at 10:00 Korea Standard Time. Is New 90 Day High Low • Feb 26
New 90-day low: ₩16,950 The company is down 12% from its price of ₩19,250 on 27 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 10.0% over the same period. Is New 90 Day High Low • Feb 08
New 90-day low: ₩17,650 The company is down 4.0% from its price of ₩18,400 on 10 November 2020. The South Korean market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is down 1.0% over the same period. Is New 90 Day High Low • Jan 22
New 90-day low: ₩17,850 The company is down 2.0% from its price of ₩18,250 on 23 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is flat over the same period. Is New 90 Day High Low • Oct 20
New 90-day low: ₩18,100 The company is down 14% from its price of ₩21,100 on 22 July 2020. The South Korean market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is down 4.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: ₩18,150 The company is down 15% from its price of ₩21,300 on 26 June 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is down 10.0% over the same period.